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Tax Comparison of Dividends vs Interest
in 2012

The tables on this page compare taxes payable by province/territory in 2012
for three
different types of investment income - Canadian dividends eligible for the enhanced dividend tax
credit, non-eligible Canadian dividends, and
other investment income such as foreign dividends and interest. The
calculations assume that the income is earned by a single person, and that there
is no other type of income included in taxable income. The tax
rates used are as known on November 12, 2012. The total taxes payable include
any alternative minimum tax, where applicable.

Dividends eligible for the enhanced dividend
tax credit

Actual
Eligible
Dividends

Taxable
Income

Total Federal +
Provincial Income Taxes Payable (Refundable) in 2012

AB

BC

MB

NB

NL

NS

NT

NU

ON

PE

QC

SK

YT

$50,000

$69,000

$204

$1,002

$2,037

$204

$204

$2,014

$(739)

$(997)

$804

$591

$2,915

$204

$204

60,000

82,800

1,450

2,245

4,612

1,496

1,484

4,387

529

271

2,495

2,741

5,217

1,482

1,469

80,000

110,400

4,476

5,270

10,244

4,538

4,522

9,731

3,562

3,829

6,834

7,494

11,261

4,518

4,501

100,000

138,000

7,406

8,203

15,739

7,425

7,855

15,004

6,473

7,846

11,081

12,091

17,306

8,049

7,414

Non-eligible dividends

Actual
Non-eligible
Dividends

Taxable
Income

Total Federal +
Provincial Income Taxes Payable in 2012

AB

BC

MB

NB

NL

NS

NT

NU

ON

PE

QC

SK

YT

$15,000

$18,750

$0

$0

$716

$0

$0

$0

$(396)

$(375)

$0

$832

$458

$0

$0

30,000

37,500

709

859

2,588

588

600

151

(631)

(750)

390

2,765

1,654

981

187

50,000

62,500

3,138

2,738

6,142

3,070

3,278

2,824

(103)

(231)

2,236

6,769

5,328

3,944

2,146

60,000

75,000

5,034

4,386

8,972

5,004

5,373

5,029

1,067

1,227

4,050

9,772

7,832

6,152

3,876

80,000

100,000

9,410

9,180

15,635

9,525

10,198

10,079

5,283

5,099

8,404

16,448

14,121

11,153

8,176

100,000

125,000

14,201

15,095

22,714

14,483

15,440

15,696

10,000

9,515

13,330

23,863

20,965

16,666

13,075

Other income (foreign dividends, interest, etc.)

Interest
Income

Taxable
Income

Total Federal +
Provincial Income Taxes Payable in 2012

AB

BC

MB

NB

NL

NS

NT

NU

ON

PE

QC

SK

YT

$15,000

$15,000

$627

$627

$1,192

$627

$627

$900

$378

$438

$758

$1,091

$749

$633

$686

30,000

30,000

4,149

4,385

5,184

4,648

4,552

4,794

3,326

2,988

4,217

5,061

5,681

4,533

4,227

50,000

50,000

9,659

9,484

11,225

10,454

10,424

11,294

8,077

7,177

9,488

11,252

12,490

10,402

9,338

60,000

60,000

12,859

12,454

14,700

13,864

13,874

15,003

11,037

9,877

12,603

14,832

16,427

13,902

12,506

80,000

80,000

19,259

18,561

22,255

20,695

20,888

22,737

17,193

15,677

19,236

22,457

24,301

20,902

18,842

100,000

100,000

26,243

25,913

30,719

28,158

28,531

31,113

24,617

22,432

27,663

30,812

33,454

28,486

26,121

Notes re all three tables:
- BC includes MSP premiums payable for 2013 based
on 2012 income
- Ontario
- includes Ontario Health Premium
- QC includes health contribution, contribution to the
health services fund, and prescription drug insurance plan premiums
- QC taxes are net of tax credit for person living
alone

To see the tax results for your own income situation, and how it would change if
the type of investment income changes, use our Income
Tax Planning Calculators.